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“The fact that we’re seeing two of our biggest sectors moving higher is boding well for the market today; it does follow on from a negative session yesterday. However, in the last 11 sessions we’ve seen 10 sessions of gains."

ANZ was up nine cents to $26.67, Commonwealth Bank was up 33 cents to 64.78, NAB was up 21 cents to $27.57, and Westpac had climbed eight cents to $28.12.

“This is important – we’re seeing a strong result for the first half, and given that Kathmandu tends to make most of its profit in the second half it does imply that we’re going to see quite a strong result for the full year," Ms Lee said.

Kathmandu jumped 5.37 per cent, or 9.5 cents, to $1.865.

Myer and David Jones were both higher. Myer was trading at $2.495, up by 0.5 cents, and David Jones was up by one cent to $2.51.

National turnover at 10.42am AEDT was 309.9 million shares worth $513.4 million.